NIKE (NYSE:NKE) Stock Price Up 0.3%

NIKE, Inc. (NYSE:NKE)’s stock price shot up 0.3% during mid-day trading on Wednesday . The stock traded as high as $94.19 and last traded at $93.39. 10,388,153 shares changed hands during trading, a decline of 11% from the average session volume of 11,716,572 shares. The stock had previously closed at $93.10.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NKE. BMO Capital Markets upped their target price on shares of NIKE from $110.00 to $118.00 and gave the company an “outperform” rating in a research note on Friday, December 22nd. UBS Group lowered their target price on shares of NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. HSBC lowered their target price on shares of NIKE from $120.00 to $115.00 and set a “hold” rating on the stock in a research note on Monday, January 22nd. Wedbush restated an “outperform” rating and issued a $115.00 price target on shares of NIKE in a research report on Wednesday, March 27th. Finally, Wells Fargo & Company reduced their price target on shares of NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $116.26.

NIKE Stock Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The firm has a market capitalization of $143.93 billion, a P/E ratio of 28.05, a P/E/G ratio of 1.83 and a beta of 1.08. The stock’s 50 day moving average is $98.31 and its two-hundred day moving average is $103.37.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. As a group, equities analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio (DPR) is 43.53%.

Institutional Investors Weigh In On NIKE

Several large investors have recently bought and sold shares of the company. Vestcor Inc increased its stake in NIKE by 0.3% in the fourth quarter. Vestcor Inc now owns 29,977 shares of the footwear maker’s stock valued at $3,508,000 after purchasing an additional 81 shares in the last quarter. Excalibur Management Corp increased its stake in NIKE by 1.9% in the third quarter. Excalibur Management Corp now owns 5,148 shares of the footwear maker’s stock valued at $492,000 after purchasing an additional 98 shares in the last quarter. Baxter Bros Inc. increased its stake in NIKE by 2.0% in the third quarter. Baxter Bros Inc. now owns 5,045 shares of the footwear maker’s stock valued at $482,000 after purchasing an additional 100 shares in the last quarter. First Pacific Financial increased its stake in NIKE by 1.3% in the third quarter. First Pacific Financial now owns 8,098 shares of the footwear maker’s stock valued at $774,000 after purchasing an additional 100 shares in the last quarter. Finally, Jeppson Wealth Management LLC increased its stake in NIKE by 4.5% in the third quarter. Jeppson Wealth Management LLC now owns 2,315 shares of the footwear maker’s stock valued at $221,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.